Powers of a universal bank A universal bank has the same powers as a commercial bank with the following additional powers: the powers of an investment house as provided in existing laws and the power to invest in non-allied enterprises. List of local universal banks Government-owned Al-Amanah Islamic Investment Bank of the Philippines Development Bank of the Philippines Land Bank of the Philippines Private-owned 1. Banco de Oro Universal Bank 2. Metropolitan Bank and Trust Company 3. Bank of the Philippine Islands 4. Philippine National Bank 5. Rizal Commercial Banking Corporation 6. UnionBank of the Philippines 7. China Banking Corporation 8. Citibank 9. East West Bank 10. Philippine Savings Bank 11. Philtrust Bank (Philippine Trust Company) 12. Security Bank 13. United Coconut Planters Bank 14. Allied Bank Corporation Powers of a commercial bank In addition to having the powers of a thrift bank, a commercial bank has the power to accept drafts and issue letters of credit; discount and negotiate promissory notes, drafts, bills of exchange, and other evidences of debt; accept or create demand deposits; receive other types of deposits and deposit substitutes; buy and sell foreign exchange and gold or silver bullion; acquire marketable bonds and other debt securities; and extend credit. List of local commercial banks Asia United Bank Bank of Commerce BDO Private Bank (subsidiary of Banco de Oro) Philippine Bank of Communications Philippine Veterans Bank Robinsons Bank Corporation List of foreign banks with commercial banking operations Branches Australia and New Zealand Banking Group Bangkok Bank Bank of America, N.A. Bank of China Chinatrust Commercial Bank Citibank, N.A. Deutsche Bank AG Hongkong and Shanghai Banking Corporation ING Group JPMorgan Chase Korea Exchange Bank Mega International Commercial Bank Mizuho Corporate Bank Standard Chartered Bank The Bank of Tokyo-Mitsubishi UFJ, Ltd. [edit]Thrift banks [edit]Powers of a thrift bank A thrift bank has the power to accept savings and time deposits, act as a correspondent with other financial institutions and as a collection agent for government entities, issue mortgages, engage in real estate transactions and extend credit. In addition, thrift banks may also maintain checking accounts, act as a depository for government entities and local government units and engage in quasi-banking and money market operations subject to the approval of the Bangko Sentral. As per the banker Amit Malhotra, the performance of thrift banks are underrated. [edit]List of local thrift banks [edit]Government-owned Philippine Postal Savings Bank [edit]Privately owned Accord Savings Bank Allied Savings Bank (subsidiary of Allied Bank) Anchor Savings Bank Area Development Bank Asiatrust Development Bank Bank of Calape Bank of Cebu BankOne Savings and Trust Corporation Bankwise Bataan Development Bank Bataan Savings and Loan Bank BPI Direct Savings Bank (subsidiary of Bank of the Philippine Islands) BPI Family Savings Bank (subsidiary of Bank of the Philippine Islands) Business and Consumers Bank Century Savings Bank Chinabank Savings (formerly Manila Bank; subsidiary of Chinabank) City Savings Bank Citystate Savings Bank Cordillera Savings and Loan Bank Dumaguete City Development Bank Dungganon Bank EIB Savings Bank (subsidiary of Export and Industry Bank) Equicom Savings Bank Express Savings Bank Farmers Savings and Loan Bank First Consolidated Bank GSIS Family Bank (subsidiary of the Government Service Insurance System) Hiyas Bank Iloilo City Development Bank Inter-Asia Development Bank ISLA Bank Kauswagan Bank Legazpi Savings Bank, Inc. Lemery Savings and Loan Bank Liberty Savings and Loan Association Life Savings Bank Luzon Development Bank Malasiqui Progressive Savings and Loan Bank Malayan Bank Metro Cebu Public Savings Bank Micro Enterprise Bank Microfinance Maximum Savings Bank, Inc. (MAXBANK) Northpoint Development Bank Opportunity Microfinance Bank Optimum Development Bank Pacific Ace Savings Bank Palawan Development Bank Pampanga Development Bank Peñafrancia Savings and Loan Association Philam Savings Bank (subsidiary of Philam Life) Philippine Business Bank Philippine Savings Bank (Metrobank Group) Planters Development Bank Premiere Development Bank (to be acquired by Security Bank) Progress Savings and Loan Association Queen City Development Bank Quezon Coconut Producers Savings and Loan Bank RCBC Savings Bank (subsidiary of Rizal Commercial Banking Corporation) Robinsons Savings Bank (subsidiary of JG Summit Holdings) Sampaguita Savings and Loan Association San Pablo City Development Bank Sandigan Savings Bank Silangan Savings and Loan Bank Sterling Bank of Asia The Real Bank Tower Development Bank UCPB Savings Bank (subsidiary of United Coconut Planters Bank) University Savings and Loan Bank Village Savings and Loan Association Vizcaya Savings and Loan Association Wealth Development Bank Winbank World Partners Bank [edit]List of foreign banks with thrift banking operations Citibank (through Citibank Savings) HSBC (through HSBC Savings Bank) United Overseas Bank [edit]Cooperative and rural banks Rural and cooperative banks are the more popular type of banks in the rural communities. Their role is to promote and expand the rural economy in an orderly and effective manner by providing the people in the rural communities with basic financial services. Rural and cooperative banks help farmers through the stages of production, from buying seedlings to marketing of their produce. Rural banks and cooperative banks are differentiated from each other by ownership. While rural banks are privately owned and managed, cooperative banks are organized/owned by cooperatives or federation of cooperatives. A rural bank has the power to provide adequate credit facilities to farmers and merchants or to cooperatives of such farmers and merchants and, in general, to the people of the rural communities of which the rural bank operates in. [edit]List of cooperative banks Agusan del Norte Cooperative Bank Bataan Cooperative Bank Banco Cooperativa de Zamboanga Camiguin Cooperative Bank Capiz Settlers Cooperative Bank Cooperative Bank of Agusan del Sur Cooperative Bank of Aklan Cooperative Bank of Aurora Cooperative Bank of Benguet Cooperative Bank of Bohol Cooperative Bank of Bukidnon Cooperative Bank of Bulacan Cooperative Bank of Cagayan Cooperative Bank of Camarines Norte Cooperative Bank of Camarines Sur Cooperative Bank of Cavite Cooperative Bank of Cebu Cooperative Bank of Davao del Sur Cooperative Bank of Ilocos Norte Cooperative Bank of Iloilo Cooperative Bank of La Union Cooperative Bank of Lanao del Norte Cooperative Bank of Misamis Oriental Cooperative Bank of Mountain Province Cooperative Bank of Negros Oriental Cooperative Bank of Cotabato Cooperative Bank of Nueva Ecija Cooperative Bank of Palawan Cooperative Bank of Pampanga Cooperative Bank of Quezon Province Cooperative Bank of Surigao del Sur Cooperative Bank of Tarlac Cooperative Bank of Zambales Cooperative Bank of Zamboanga del Norte Cooperative Bank of Zamboanga del Sur Countryside Cooperative Bank of Batangas First Isabela Cooperative Bank Ilocos Sur Cooperative Bank Leyte Cooperative Bank Metro South Cooperative Bank National Teachers and Employees Cooperative Bank Occidental Mindoro Cooperative Bank Samahang Nayon Cooperative Bank of Nueva Vizcaya Sorsogon Provincial Cooperative Bank Southern Leyte Cooperative Bank [edit]List of rural banks [edit]Agusan del Norte Green Bank [edit]Agusan del Sur Peoples Bank of Caraga, Inc. [edit]Aklan Rural Bank of Altavas Rural Bank of Balete Rural Bank of Banga (Aklan) Rural Bank of Makato Rural Bank of New Washington Rural Bank of Malinao - Microsavers Bank [edit]Albay Camalig Bank Cagsawa Rural Bank Ibalon Rural Bank Rural Bank of Guinobatan [edit]Bataan Balanga Rural Bank Orani Rural Bank Rural Bank of Abucay Rural Bank of Bagac [edit]Batangas 5 Speed Rural Bank Balayan Bay Rural Bank Banco Batangan Banco ng Masa Bangko Kabayan Batangas Rural Bank for Cooperatives Bolbok Rural Bank Calaca Rural Bank Classic Rural Bank Dynamic Bank Empire Rural Bank Excel Rural Bank Farmers Rural Bank First Coconut Rural Bank Limcoma Rural Bank Lipa Bank Lipa Public Bank Lobo Rural Bank Malarayat Rural Bank Mount Makiling Rural Bank New Rural Bank of Agoncillo President Jose P. Laurel Rural Bank Progressive Rural Bank Rural Bank of Alitagtag Rural Bank of Padre Garcia Sto Rosario Rural BAnk Women's Rural Bank, Inc. [edit]Bohol First Consolidated Bank [edit]Biliran Rural Bank of Naval, Inc. [edit]Benguet Benguet Center Bank Diamond Rural Bank Highland Rural Bank Rural Bank of Baguio [edit]Bukidnon Malaybalay Rural Bank Asian Hills Bank [edit]Bulacan Agricom Rural Bank Apex Rural Bank Baliuag Rural Bank Banco Rural de General Tinio Bangko Luzon Bangko Rural ng Kalumpit Rural Bank of San Pascual inc. Delmont Bank (Rural bank of San Jose del Monte City) East Coast Rural Bank of Hagonoy Emerald Rural Bank Fil-Agro Rural Bank Gateway Rural Bank Meyacauayan Second Rural Bank, Inc. La Consolacion Rural Bank Rural Bank of Angat Rural Bank of Doña Remedios Trinidad Silahis Bank Rural Bank of Bustos Rural Bank of Pandi [edit]Cagayan Providence Rural Bank Rural Bank of Gattaran Claveria Rural Bank Rural Bank of Sanchez Mira [edit]Camarines Sur Bangko Rural ng Magarao Bangko Rural ng Pasacao First Naga